Inco, the world's second largest nickel producer, could be interested in becoming involved in the platinum market, its chairman and chief executive has revealed.

In an interview with Dow Jones Newswires, Scott Hand responded enthusiastically to suggestions that the company should become involved in the production of platinum.

Responding to a question on whether he would like to see platinum become part of the company's portfolio, Mr Hand replied: "I would love to be able to get into platinum."

Mr Hand identified platinum producer Lonmin as a potential partner to provide Inco's entry into the platinum sector, describing a joint venture between the two as one of its "best prospects".

Speculation has been rife in recent months over a potential takeover of Lonmin, although on announcing an 11 per cent rise in annual profits today, Lonmin's chief executive Brad Mills insisted the firm has not received any approaches.

However, Mr Hand insisted that there will be no move into the platinum market in the short term, as Inco is currently looking to tie up a deal to combine with copper and nickel producer Falconbridge.


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